For the past 60 years, Peterson Companies has invested in retail, office, and residential communities throughout Maryland. From Frederick to Aberdeen to the Maryland suburbs surrounding Washington D.C., find Peterson Companies’ developments across Maryland. The company has created landmark destinations including National Harbor, Rio, and Downtown Silver Spring, and more recently has expanded its portfolio to include significant multi-family, industrial, self-storage, and data center holdings.
We sat down with Chief Executive Officer Jon M. Peterson to learn about his efforts in leading one of the largest privately held real estate development firms in the region, and how his company is committed to building places that make a lasting, positive impact on the region.
How is the company fulfilling Milt Peterson’s vision of a diversified, forward-focused business that continues to drive economic development?
Peterson Companies has continued to grow and evolve over the past few decades, delivering impactful projects that bring people together and help strengthen the communities we serve. Today, Milt’s vision lives on through a more diversified and forward-focused strategy – one that continues to drive economic development across the region.
Over the past decade, we’ve expanded beyond retail, residential, and office into new sectors like data center land development. This growth has allowed us to respond to the market’s evolving needs while maintaining a long-term, strategic approach to real estate investment and development. We’re investing in the future, not only through new ventures, but also by reinvesting in the assets and communities we’ve helped shape. That combination of innovation and staying true to our values is how we continue to lead in the region’s real estate landscape.
How has Peterson Companies evolved to meet the region’s changing real estate needs?
Over the last decade, Peterson Companies has transformed significantly – not just in scale, but in strategy. We’ve evolved from a traditional ground-up developer into a more diversified real estate company, actively investing in what the region needs next. This includes expanding into new areas like industrial and self storage, alongside strategic residential acquisitions and affordable housing initiatives and broadening our geographic footprint in the process. These moves position us to serve a wider range of community needs while supporting long-term regional growth.
Peterson is investing significantly in retail and residential offerings at Rio. Tell us a little about what’s planned and what consumers can expect in the future.
Our company has a strong history of enhancing Maryland destinations to meet the evolving needs of residents and visitors. At Rio in Gaithersburg, we’ve continued to build on a major 2019 renovation that added an expanded lakefront boardwalk, performance stage, and new gathering spaces – bringing in top dining and entertainment like Dave & Buster’s, Silver Diner, Yard House, and more recently, Sportrock Climbing Centers and Charley Prime Foods.
Additionally, at National Harbor, we’re expanding the entertainment mix with venues like Live-K, a karaoke club with private rooms and family-friendly daytime activities, which will open soon.
What is your favorite activity to do in Maryland?
One of my favorite places to visit in Maryland with family and friends is National Harbor. Spending time there – especially at Spirit Park – is a powerful reminder of the original vision for the project and how far it’s come. What was once underutilized land along the Potomac River has been transformed into an iconic destination for all to enjoy. From the public art and waterfront views to the energy of the streetscape, it reflects the intention to create something lasting and meaningful. Spirit Park, in particular, captures that spirit—a place to reflect, gather, and celebrate community.
Peterson Companies is a member of the Maryland Marketing Partnership. Learn more about the MMP’s efforts in making Maryland more competitive.
